In mid-2008 the Australian Securities and Investments Commission was warned Storm Financial group was going to blow up.

The $1 billion fallout of north Queensland miner Kagara intensified yesterday with calls for a parliamentary inquiry into the collapse, legal action pending and attacks on the corporate regulator, ASIC.

It involved legal shootouts, media cannonfire and plenty of hurt feelings, but one of the wild west's most colourful sagas looks close to an end after KordaMentha flogged off Luke Saraceni's Raine Square development in the Perth CBD.